Moyers on Politics Corrupted by Money

Bill Moyers has published an insightful essay on "A Culture of Corruption" that discusses the influence of money on politics. Here's a quote:

Look back at the bulk of legislation passed by Congress in the past decade: an energy bill that gives oil companies huge tax breaks at the same time that ExxonMobil has just posted $36.13 billion in profits and our gasoline and home heating bills are at an all-time high; a bankruptcy "reform" bill written by credit card companies to make it harder for poor debtors to escape the burdens of divorce or medical catastrophe; the deregulation of the banking, securities and insurance sectors, which brought on rampant corporate malfeasance and greed and the destruction of the retirement plans of millions of small investors; the deregulation of the telecommunications sector, which led to cable industry price-gouging and an undermining of news coverage; protection for rampant overpricing of pharmaceutical drugs; and the blocking of even the mildest attempt to prevent American corporations from dodging an estimated $50 billion in annual taxes by opening a P.O. box in an off-shore tax haven like the Cayman Islands.

In every case the results were produced by rivers of cash flowing to favored politicians from interests whose return on their investment put Wall Street equities to shame. This happens because our public representatives need huge sums to finance their campaigns, especially to pay for television advertising. The masters of the money game have taken advantage of that weakness in our democracy to turn our elections into auctions.